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in rising oil prices, the answer was little to none. >> we believe that high energy prices are fundamentally a result of supply and demand. >> as it turns out, not even j.p. morgan's chief global investment officer agreed with him. the same day that eagles testified, this email went out to clients saying, "an enormous amount of speculation" ran up the price, and "$140 in july was ridiculous." if anyone had any doubts, they were dispelled a few days after that hearing when the price of oil jumped $25 in a single day. september 22nd. >> september 22nd. >> michael greenberger, a former director of trading for the commodity futures trading commission, the federal agency that oversees oil futures, says there were no supply disruptions that could have justified such a big increase. >> did china and india suddenly have gigantic needs for new oil products in a single day? no--everybody agrees supply-demand could not drive the price up $25, which was a record increase in the price of oil. the price of oil went from somewhere in the $60s to $147 in less than a year. and we were being told on that run-
a spending cut plan. he has an energy plan. he's got to make it clear. he's got to explain to people the connection between his plans and the economic recovery that we have not yet had. that's a tall order for romney. and he's going to have to fight hard for it while the, of course is attacking him. >> you said earlier i was watching kudlow and company, you said the first impression is important. he's got to swing right away. you think he'll do that? >> that's my hunch. i've seen this before. aggressive. he's got to put this sort of line in the sand. here's what i believe. and here's what he believes. and there's a big choice in this election. he is the guy who wants redistribution. i'm the guy who wants growth. he's the guy who wants government centered economy. i'm the guy for free enterprise. he's got to say that. but it's doubly hard because he's got to put meat on the bones of his tax and spend policy. to this day, people are not quite sure what mitt romney's policies are. the president doesn't have policies. romney does, but we don't understand them. >> a debate is never a good
90 points, two-thirds of 1%. when you look at today's sector leaders, it's energy, financials, health care. all posting sharp gains at this hour. of course, the energy and materials sector were really the pressured sectors going quarter. bill? >> combination of risk on/risk off seconders that are doing well today. no clear direction from that standpoint. we're wondering whether today's market action is a sign of what's to come for the quarter. you saw the statistic earlier that said on average when you have a positive first day of the fourth quarter the dow is up 4% for the quarter. so what's to come this quarter? deborah of "the street" says she feels the market is destined to go higher and points out $22 billion came flooding out of equity mutual funds in the month of august, alone. show she feels that money is going to come flowing back for the investors who feel they missed out on the action, marie w ya. >> is deborah right? could we have this market meltup continue? cnbc contributor abigail doolittle suggests taking money off the table in the face of these gains. deborah, let me
the energy sector right now? president of oil outlooks and opinions is bullish on crude and carl joins me now on the floor of the nyse. michelle made some pretty compelling arguments about why oil should go lower. you're still bullish though. why? >> we're nowhere near the numbers we saw in '06 and '08. if we can get qe3 going, that demand is going to meet what supply we have and probably outpace at some point. >> a lot of people down here feel as though qe3 may do a little bit to help the economy, but that with every quantitative easing we've seen less impact in the economy. it doesn't sound like you quite buy that. >> i mean historically last time we had double digit unemployment it took five years before we really came into it. we're going into the fifth year. qe3 will play right into what happens next. >> how high do you think crude might move if indeed we see a recovery with more traction? >> first off, say next year, $104 to $106 to wti average. how do you get involved? i say something that's going to be international. exon or oil refineries are definitely things you should get into. ni
're in the expansion camp, you want financials, energy, materials. in the contraction camp, you're generally on the defensive side. the trade everybody's been talking about, jim you alluded to it, it's to play the u.s. market, play autos, housing, consumer staples. i call it the home depot trade. it's been a monster. that's the classic trade to play in these circumstances. i have a couple of problems with this. number one, cyclicals have outperformed defensive names in the last couple of months since this has been a very popular notion out there. since june overall, earnings and stocks have been somewhat negatively correlated. we've seen earnings come down and yet the stock markets continue to move up. in the last few weeks, really hold right near its highs. you can argue and there is certainly truth to that that that's because we have q.e. 3, because we've got the ecb in the market. but i look at the facts of where the market is, not necessarily what's been moving it every minute. that's what i see right now. today, the european bailout fund is coming into effect. if spain keeps going along
which direction to take the nation. "squawk" will be right back. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. >>> welcome back, everybody. the economy obviously front and center this week with the jobs report coming out on friday. our guest host this morning runs a company that has several economic indicators all rolled into one. joining us for the remainder of the show with his take on the markets and what's happening in corporate america is jim tisch, and jim, it's great to have you here onset. we were just talking about how you have a lot of different things that really give you a good idea of what's happening in the economy. diamond offshore, what's happening from an energy perspective, you have the luxur
the deficit. >> there were also some notable exchanges about jobs, health care, energy industry subsidies and regulation, all of these things got deeper than some people had been expecting. we'll talk about those topics with john harwood. but if you were watching, as they headed in a 70% -- >> down from 80 the day before. >> right now it's down to about 66% in trade obviously suggesting romney got a big boost. >> mini flash crash. >> among our political guests this morning ready to talk about the road to election today, arianna huffington will be our guest host. huffington "post" obviously has a left bent, but it was declaring romney won the debate. ken duberstein will join us, as well. >> i was reading some of your tweets last night, john, and i liked your tweet. i tell you what i took away from the entire debate because i want to let you say it, but i saw what's possible in a life spent without any alcohol. i saw what i could have possibly been -- i saw how i could have possibly been able to talk if i had all the brain cells that i started with. and that was what i came away with. that
. >> thank you so much, rick. let's check out the latest moves in energy and metals. sharon at the nymex. >> the momentum here definitely in the metals market. i'm standing in the gold pit. gold prices went above $1,794 an ounce. a lot of investors may have looked at the s&p 500's returns, that's decent. but gold up over 10% in the last quarter. silver up over 25% in the last quarter. they want some more of that in the fourth quarter. and we're looking at that here in the metals market. also looking at momentum taking over, the weak sentimental data out of china in terms of the oil price. the oil prices here are a little bit of a bid for oil. the fact that they lowered a mix a little while ago before the open on the weak data out of china on their manufacturing numbers. in terms of the biggest mover here in the commodities space, definitely it is natural gas. natural gas at a ten-month high. natural gas here above 3.40. some are saying that $3 gas is sustainable here even if we don't see the same focus on coal to gas switching. still going to see higher natural gas prices. back to you. >
governor romney talked about creating 4 million jobs by embracing an energy independence for north america. i have the ceo of the largest pipeline builder on my other show "mad money" last night. he said 4 million is reasonable, but the federal government is not being helpful. i know you favor all sort of energy, solar, fantastic. what do you say about the 4 million? >> actually, a say that we need to create more jobs across the board and particularly, highly skilled people to work in the refinery and production areas where we're finding more energy and we have to have a balance, so i'm totally for that. i encourage more a perennisship programs and training in that area. we have a high need for welders and people working in refineries and i'm all for paying for those jobs and looking at other alternative forms of energy and we have to have a balance of both. >> the unemployment rate falling below 8% for the first time since january 2009 and i'm sure the labor department was hearing about that this morning. at the same time, can you tell the american people that this 7.8 number marks the tu
of texas in the energy business, that investors are very focused on, it's a three-member utility commission that is going to make that decision. they are appointed by the governor. big debate between the president and his republican challenger, mitt romney. it wasn't that long ago that rick perry was one of the challengers for the republican nomination for president. i asked him what he thinks romney is going to do tonight and how he is going to do in tonight's debate. >> this president has to defend the debt that's being created and i think governor romney's going to do a very good job of one of growth, of one of allowing the states to be more engaged in policies. >> reporter: so, of course, he thinks romney is going to do good tonight. is he partisan, no doubt about that. we'll see how it plays out. >> david, i understand that you're still going to talk to kyle bass in a few minutes. what is top of questions in your mind? >> kyle is a big macro thinker. he also runs a hedge fund that makes stock picks like everybody else. we're also going to talk about, first off, the growing debt world w
. the higher open across the board looks like much more "squawk on the street" straight ahead. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh
've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. overmany discounts to thine customers! [old english accent] safe driver, multi-car, paid in full -- a most fulsome bounty indeed, lord jamie. thou cometh and we thy saveth! what are you doing? we doth offer so many discounts, we have some to spare. oh, you have any of those homeowners discounts? here we go. thank you. he took my shield, my lady. these are troubling times in the kingdom. more discounts than we knoweth what to do with. now that's progressive. >>> taking control of your finan
so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. >>> our guest host craig barrett, former chairman and ceo of intel. it's really good to have you. this is like twice in the last three weeks you've been on, isn't it? >> it's a pleasure to be with you guys. >> we'll talk tech, first of all, do you feel total, do you feel like a generation wire? are you totally insync with everything in technology now or do you harbor any resentment to all this new stuff, craig, having been at intel in the glory days? >> hey the beauty of tech is everything changes every year or every six months and t
't exploited the full potential, we have alternative source of energy like solar energy or wind energy, we have agricultural output that we don't take advantage of, so there are ma so many resources and opportunities in greece, it's not a matter of the private sector doing poorly or a lack of resources, but it's rather how the state is operating, we have a big public sector as you know, we have tax evasion and we have no privatizations. if we change these things if we're not a state controlled economy but instead a private controlled economy we can see a different picture and to me by staying in the european union this is where we should concentrate. it's not how much you value the currency or you divide the labor cost but what kind of economy you are, where you wish to go. >> that's similar to the debate we seem to be having here in the united states. thanks so much for joining us this morning and congratulations on your deal and good luck with it. >> thank you very much. >> thanks for playing, sam. that was helpful. good to have you on the set. >> just look at that shot, crumbling infrastruct
're going into earnings season. let's see how they come out. energy, materials, and financials are supposed to be down and the overall down 5%. >> goldman says this is primarily about the fiscal cliff. do you agree? >> i think it's going to be very heavily earnings driven where you get china and europe in the picture too. i think fiscal cliff is partial. it will be a partial cliff. it won't be a huge dropoff. it will be a partial dropoff, in our humble opinion. we think the consumer and the low interest rates and europe and china mean you're not going to have much earnings next year. that's really our big call. >> are you scared after what he said? >> no, not at all. >> do you agree, disagree? >> it doesn't really change our view on what we're doing. we're buying cheap assets, things like emerging market equities that's trading at 12 times earnings. >> but if he's right, all those assets can get a lot cheaper in the next three months. >> true, true. but what the fed is doing in terms of pumping ining liquidit the market. it's pretty supportive. >> why so pessimistic though? give us a partic
Search Results 0 to 14 of about 15